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This case study describes how Atlantic partnered with impact investing specialists at Arabella Advisors to help Vital Healthcare Capital (V-Cap), a community development financial institution. Atlantic’s grant enabled V-Cap to expand its capacity to support health care providers that serve low-income and vulnerable communities in the United States and enhance the roles of frontline workers who deliver that care.

The $12.5 million grant from Atlantic, which Arabella helped design and monitor, provided capital that V-Cap used to grow from a small organization to one with a $30 million pool of capital. The grant was in the form of “first loss capital” — an investment on which the foundation takes the first loss in order to enable V-Cap to move through its startup phase and attract additional investment. As a result, V-Cap can sustain its operations for years into the future and is better positioned to provide financing for high quality healthcare providers that serve low income communities.